More Stories

Informist, Monday, Sept. 30, 2024

--SEBI introduces single stock exchange filing system for listed companies

--SEBI: Cos can take 3 hours to disclose outcome of board meet post-mkt hours

MUMBAI – The Securities and Exchange Board of India is all set to introduce a single filing system for listed companies to file relevant reports and documents on one stock exchange which will be automatically be disseminated at the other exchange. The SEBI board Monday gave its approval to the introduction of this facility. The National Stock Exchange and the BSE will have to link their systems for this purpose.

There were a few other changes to the listing regulations that were cleared by the SEBI board. Companies will be allowed to take three hours, instead of 30 minutes, to disclose the outcome of their board meetings if the meeting concludes after trading hours. The companies will also get 72 hours, instead of 24 hours, to disclose litigations or disputes involving claims against them. Further, disclosure of tax litigations and tax disputes will be required to be made on the basis of materiality.

Companies currently also have to disclose all fines and penalties by any authority. SEBI board gave nod to change this to fines and penalties imposed on the basis of materiality threshold. If a sector regulator or enforcement agency has levied a fine or penalty of INR 100,000 or more then the company will have to disclose it. Disclosure will also be required if the fine or penalty by other authorities is INR 1 million or more.

The SEBI board has also approved easing the issue of capital and disclosure norms. Issuer companies can combine pre-issue advertisement and price band advertisement as a single advertisement. The board also approved the harmonisation of listing norms and issue of capital regulations with respect to thresholds for identification of material subsidiary, material litigation disclosures, and material agreements.  End

Reported by Rajesh Gajra

Edited by Ashish Shirke

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.